Hillary Clinton visits the IDC to strengthen US-SA ties

On her whirlwind tour of African countries in August, US Secretary of State, Hillary Rodham Clinton joined South Africa’s captains of industry at a special gathering at the IDC offices in Johannesburg, where she was hosted by IDC  together with Business Unity South Africa (BUSA). Clinton addressed senior representatives from a range of industries, including the country’s big banks, telecommunications companies, mining and pharmaceutical manufacturers.  Clinton said cooperation between South Africa and the United States could be strengthened and trade facilitated between the two nations through bi-lateral agreements.  Amongst the guests was Minister of Trade and Industry, Rob Davies who spoke about encouraging investment in South Africa.

United States Secretary of State, Hillary Clinton with IDC CEO Geoffrey Qhena

Parliamentarians get to know the IDC

More than 50 parliamentarians visited the IDC in July to hear more about the organisation and its mandate.  Following the elections in April, many members of parliament were appointed to various committees  and thus wanted to develop a deeper understanding about what the organisation does.

Geoffrey Qhena (CEO) answers questions from the floor

IDC CEO Geoffrey Qhena presented to members of the Select Committee on Trade and International Relations, the Portfolio Committee on Trade and Industry. Parliamentarians were particularly interested in the IDC’s development work in rural communities and in finding out about the IDC’s assistance to small and medium enterprises.

Cooperation agreement signed with the Brazilian Development Bank

The IDC recently entered into a cooperation agreement with the Brazilian Development Bank, Banco Nacional de Desenvolvimento Econômico e Social (BNDES), which will lead to regular technical cooperation, joint product design and co-financing activities between the two development finance institutions. The cooperation will focus on the following outputs: industrial strategy formulation, financial product and policy development, joint financing of projects on the African continent, as well as strengthening trade and economic relations between South Africa and Brazil. It will be subject to the respective mandates of both institutions. The agreement is the culmination of a four-year informal information sharing relationship between the two institutions.

IDC CEO Geoffrey Qhena and Maria Isabel Aboim, Deputy Director, International Division (BNDES), strengthen ties between the two institutions